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Pension and Retiree Medical Benefits (Notes) | 6 Months Ended
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Jun. 12, 2021
Pension and Retiree Medical Benefits [Abstract] |
Retirement Benefits [Text Block] | Pension and Retiree Medical Benefits In 2020, we adopted an amendment, effective December 31, 2025, to the U.S. defined benefit pension plans to freeze benefit accruals for salaried participants, which will decrease pre-tax pension benefits expense by approximately $70 million in 2021, primarily impacting corporate unallocated expenses. In 2020, we also approved an amendment, effective January 1, 2021, to reorganize the U.S. qualified defined benefit pension plans that resulted in the transfer of certain participants from the PepsiCo Employees Retirement Plan A (Plan A) to the PepsiCo Employees Retirement Plan I and to a newly created plan, PepsiCo Employees Retirement Plan H (Plan H), with no material impact to pre-tax pension benefits expense. In addition, in 2020, we adopted an amendment, effective January 1, 2021, to enhance the pay credits of certain participants in Plan H, which will increase pre-tax pension benefits expense by approximately $45 million in 2021, primarily impacting service cost expense. For further information on plan changes, refer to Note 7 to our consolidated financial statements in our 2020 Form 10-K. The components of net periodic benefit cost/(income) for pension and retiree medical plans are as follows:
| 12 Weeks Ended
| Pension |  | Retiree Medical
| U.S. |  | International |  |
| 6/12/2021 |  | 6/13/2020 |  | 6/12/2021 |  | 6/13/2020 |  | 6/12/2021 |  | 6/13/2020
Service cost | $ | 120 |  |  | $ | 100 |  |  | $ | 25 |  |  | $ | 20 |  |  | $ | 7 |  |  | $ | 5 |
Other pension and retiree medical benefits income:
Interest cost | 74 |  |  | 100 |  |  | 19 |  |  | 21 |  |  | 4 |  |  | 5 |
Expected return on plan assets | (224) |  |  | (215) |  |  | (57) |  |  | (49) |  |  | (3) |  |  | (4) |
Amortization of prior service (credits)/cost | (7) |  |  | 2 |  |  | (1) |  |  | — |  |  | (3) |  |  | (2) |
Amortization of net losses/(gains) | 52 |  |  | 46 |  |  | 19 |  |  | 16 |  |  | (3) |  |  | (5) |
Curtailment losses | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |
Special termination benefits | (1) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |
Total other pension and retiree medical benefits income | (106) |  |  | (66) |  |  | (15) |  |  | (12) |  |  | (5) |  |  | (6) |
Total | $ | 14 |  |  | $ | 34 |  |  | $ | 10 |  |  | $ | 8 |  |  | $ | 2 |  |  | $ | (1) |
| 24 Weeks Ended
| Pension |  | Retiree Medical
| U.S. |  | International |  |
| 6/12/2021 |  | 6/13/2020 |  | 6/12/2021 |  | 6/13/2020 |  | 6/12/2021 |  | 6/13/2020
Service cost | $ | 240 |  |  | $ | 200 |  |  | $ | 44 |  |  | $ | 37 |  |  | $ | 15 |  |  | $ | 11 |
Other pension and retiree medical benefits income: |  |  |  |
Interest cost | 149 |  |  | 200 |  |  | 32 |  |  | 37 |  |  | 7 |  |  | 11 |
Expected return on plan assets | (448) |  |  | (429) |  |  | (98) |  |  | (86) |  |  | (7) |  |  | (8) |
Amortization of prior service (credits)/cost | (14) |  |  | 5 |  |  | (1) |  |  | — |  |  | (5) |  |  | (5) |
Amortization of net losses/(gains) | 103 |  |  | 91 |  |  | 32 |  |  | 26 |  |  | (6) |  |  | (10) |
Curtailment losses | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |
Special termination benefits | 5 |  |  | 7 |  |  | — |  |  | — |  |  | — |  |  | — |
Total other pension and retiree medical benefits income | (205) |  |  | (126) |  |  | (30) |  |  | (23) |  |  | (11) |  |  | (12) |
Total | $ | 35 |  |  | $ | 74 |  |  | $ | 14 |  |  | $ | 14 |  |  | $ | 4 |  |  | $ | (1) |
We continue to monitor the impact of the COVID-19 pandemic and related global economic conditions and uncertainty on the net unfunded status of our pension and retiree medical plans. We also regularly evaluate opportunities to reduce risk and volatility associated with our pension and retiree medical plans. During the 24 weeks ended June 12, 2021, we made discretionary contributions of $300 million to Plan H in the United States and $25 million to our international plans. We expect to make an additional discretionary contribution of $200 million to our U.S. qualified defined benefit plans in the third quarter of 2021. During the 24 weeks ended June 13, 2020, we made discretionary contributions of $150 million to Plan A in the United States and $14 million to our international plans.

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